The Impact of Auditing in Controlling Fraud and Other Financial Irregularities
Journal Title: International Journal of Empirical Finance - Year 2015, Vol 4, Issue 3
Abstract
Fraud in the Nigerian Banking Industry before the recent merger, acquisition and recapitalization efforts was at alarming rate. It has caused many banks to collapse, and many investors and depositors funds were trapped in. Infact it has prevented many banks from achieving their goals and many businesses went into liquidation. Honestly speaking it has become a cankerworm that has eating deep into the financial sector of the Nigerian economy. That calls for the need for this study and the purpose of this study therefore is to identify the causes of fraud, measure its impact and identify the means of controlling it. The study is a survey research and questionnaire was used for the collection of primary data. Questionnaires were administered to staff of First Bank of Nigeria PLC. Chi-square was used in analyzing data. The findings show that lack of adequate training, communication gap, and poor leadership skills were the greatest causes of fraud in Nigerian banking industry. It was concluded that adequate internal control system should be put in place and that workers satisfaction and comfort should be taking care of.
Authors and Affiliations
Lawal Babatunde Akeem
Keywords
Related Articles
- EP ID EP27193
- DOI -
- Views 481
- Downloads 11
Development of a Prediction Model of Failure in Tunisian Companies: Comparison between Logistic Regression and Support Vector Machines
In this study, we try to develop a model for predicting corporate default based on a logistic regression (logit) and a support vector machine (SVM). The two models are applied to the Tunisian cases. Our sample consists...
Appraising the Credit Policy in the Private Sector Investment in the Nigerian Economy
The objectives of this study is appraising of credit policy in the private sector investment in Nigeria economic growth. Findings reveal the significant and positive impacts of domestic credit to private sector propert...
The investigation of the effect of voluntary disclosure on earnings quality and cost of capital in firms listed in Tehran Stock Exchange
The aim of this study is to investigate the effect of voluntary disclosure on earnings quality and cost of capital in firms listed in Tehran Stock Exchange. For achieving research objectives, 93 firms are selected to be...
Stock Exchange Volatility Transmissions between Turkey and the Major Financial Centers
In the last thirty years, volatility modeling in financial time series has drawn considerable attention in the literature of financial econometrics. The workhorse model of volatility has been the ARCH model and its gene...
Capital Structure, CSR Disclosure, Leverage, Firm Size and Financial Performance in Indonesia
The purpose of this research is to understand the influence of capital structure, corporate social responsibility (CSR), leverage, and firm size, on financial performance. In this research, researcher use ROA to measure...